The way a workers’ compensation case works is different than the way a personal injury case works.
In a personal injury case, you can generally go to court and have a judge or a jury award you a specific amount for your entire case.
You can’t do that under a New Jersey workers’ compensation law.
The only way to receive a lump sum award for your entire workers’ compensation case is to settle your case.
This means negotiating an agreement with your employer or its workers’ compensation insurance company.
Because of this, your case is worth whatever you can get your employer or its workers’ compensation insurance company to pay you to settle your case.
So, How Much Should I Settle My Workers Compensation Case For?
What you are willing to accept to settle your case will depend on your particular circumstances.
One thing to take into consideration is what benefits you would receive if you do not settle your case.
Basically, at any point during your workers’ compensation case, you have two choices: to settle or not.
So, when trying to determine how much you should settle for, consider what benefit you would get if do not settle your case and calculate what those benefits would be worth to you.
You should also consider whether settling your case is a good option or bad option given your particular circumstance.
Do you want to be done with your case and finish your dealings the with the insurance company?
Or would you prefer to keep your case open to receive benefits you may still be entitled to receive in the future?
Don’t Wait Too Long to Settle Your Workers Compensation Case
One important thing to consider before you decide to leave your case open is the fact that there are a lot of limits and deadlines under New Jersey workers’ compensation law that may affect what benefits you may be entitled to receive in the future.
If you wait too long or go a certain amount of time without getting a certain type of benefit, you may lose your right to receive those benefits.
So, before you decide to leave your case open, be sure to consider what statute of limitations exists and what limits there are on receiving benefits like temporary disability, medical benefits, and permanent partial disability benefits.
To summarize, your workers’ compensation case is worth whatever you can get your employer or its workers’ compensation insurance company to pay you.
If you can get them to pay you an amount you are satisfied with, then settle. If you can’t get what you need or desire, don’t settle.
But remember, you can’t force them to give you more than they want to give, any more than they can force you to settle for less than you want.
For help with your New Jersey workers’ compensation case or for more information, contact an experienced New Jersey workers’ compensation attorney.